Category Archives: Accounting

Questions to Ask When Outsourcing Accountancy Services For A Small Business

Christine Evans/ January 1, 2017/ Accounting/

Having a small business is a real achievement in life, which comes with many benefits and responsibilities. This includes financial independence if your business is running well. However, handling your business’ finances might seem like an easy job that can be done by anyone, but that is usually not the case. Getting it done correctly entails having a lot of time, technical knowledge, and experience in financial procedures, which you may not have. It is the reason as to why accountants do it as a profession.qesfqsfsfvsfbv

Employing the services of the professionals will ensure that you keep your finances together, among many other benefits. Thus, you need to ensure that you find the right accountant, who bears all the necessary qualifications. For a business in Essex, you can consider working with brighton & hove accountants chartered accountants based in this city. Below are some questions you must answer before outsourcing accountancy services.

Questions to ask before outsourcing accountancy services

Which kind of services do you expect to get?

The types of services that you may need can vary, such as getting your annual tax returns done, making a financial forecast, or even simply getting some advice on potential investment opportunities. Ideally, some accountants may only be able to offer a few services, while others can provide comprehensive services. Ensure that the company chosen can address all your needs.

Are bookkeeping services part of what the accountant offers?

Accounting and bookkeeping are considered as two separate aspects of financial maintenance. Bookkeepers have to provide accurate records of all financial transactions of your business, which are essential for loan and investment applications, monthly statements, financial analysis, payroll, accurate tax returns and much more. Moreover, an accountant will utilize the records made by the bookkeeper to prepare the mentioned documents. Some accountants offer both services, but many only do accounting.

What certifications does the accountant have?

awdfsvssfvcqdfA good accountant should be state certified to handle accounting. The main certification designations of accountants include a CPA and CMA. An accountant with a CPA means that he has passed the uniform CPA exam and met additional experience and education that the state requires. A CMA is one who is certified as having advanced knowledge in financial management in specific areas.

What experience does the accountant have in the industry?

There are firms of accountants that specialize in specific areas of accountancy like provision of payroll services, while others cover a broad range of area. Ensure that your accountant is familiar and experienced in the area you need help.…

Chartered Accountants Services for Small Business

Christine Evans/ August 31, 2016/ Accounting, Finance/

Chartered accountant is an international equivalent of a qualified public accountant. Just the same way as a certified public accountant, a chartered accountant serves to provide essential accountancy services to a business. As such, experts can be used to keep accounting records, prepare statements, audit and prepare tax returns for small businesses. However, not all people who call themselves analysts can handle accounting records of small firms in a professional manner.sfgrhjgykhtuyit

For this reason, it is recommended that you carry out a little bit of research so that you can secure a person to handle your business in a professional manner. This article will give you some tricks that can help you find a reliable chartered accountant in your area.

How to Find a Reliable Accountant

Searching Online

The internet is one of the most convenient and efficient places that will ever have answers to any queries you might be having. When looking for such a person online, only search “How to Get a Qualified Chartered Accountant” and you will have many options to look at. However, make sure you only put into consideration information which you are sure is coming from reliable sources.

Reference from Friends

Your friends or even relatives who may have hired a chartered accountant recently can help you secure the right person to handle accounting records of your small business. In case you come along such individuals, ask them about the effectiveness of the accountants they hired and also inquire about the cash amount they were charged as service fee.

Booking Appointments with the Accountants You’ve Found

hsadvfnghychgBook appointments with the different accountants you have hired so that you can have a chance to inquire more about their services. It is recommended that you ask them to issue you with several past clients’ review lists so that you can call a few people from them and get to know more about them. Kindly avoid any individual who fails to issue the lists since it is a clear indication that he/ she is hiding some things that he or she does not want you to know.

Making Use of the Money Factor

Consider an accountant who will not only charge you fair service fee but the one who will also assure you with satisfactory results in the long run. Lastly, ensure that any agreement you engage yourself in is in writing so that you can have something to produce as evidence should the need of it arise in the future.…

Why Outsource Book-Keeping Services

Christine Evans/ June 7, 2016/ Accounting/

In today’s business world, a good number of large business consider outsourcing bookkeeping services. Visit Optima Partners for book keeping services. Instead of having an in-house bookkeeper, or doing-it-yourself, several businesses are now finding so many benefits that come with outsourcing these operations.

Why you need to outsource your bookkeeping services

1. Saving Moneydfbjhsjdshjf

It’s obvious that by outsourcing such operations save money on paying part-time or full-time wages and other benefits to your employees. Moreover, you can also save a lot on lost productivity costs, which come along with recruiting additional employee onto the payroll. Outsourcing these services only allow you to pay for what you only need.

2. Scalability Options

Outsourcing your bookkeeping services can also allow you to cut back or expand within the shortest time possible. Whether you are looking to cut down on spending or grow your business, having a professional team that provides you with different options and plans will help you achieve your business goals. Therefore, outsourcing offers flexibility that your in-house bookkeepers can’t offer.

3. More Time

Outsourcing these operations for your business will also free up your valuable time, hence allowing you to focus on other important things. For instance, backend functions may be a great distraction from your day-to-day operations and having in-house bookkeeping services can result in a conflict of interests.

4. Access to Top Systems

Another reason you should outsource these services is that it gives you better access to various top tools in this industry. For instance, most small and medium businesses are often unable to afford to pay for very expensive bookkeeping programs and can’t also afford to spend their time keeping up with ever-changing rules and regulations in the industry. This means that by outsourcing, you are essentially buying those tools by proxy. This is even better because you don’t have to do anything. Moreover, these top systems keep organized books and records for many years and even create backups.

5. Access to Expertise

As a business owner, you are always guaranteed to come often across certain situations where you need quick answers to various questions relating to tax or accounting. If you outsource your bookkeeping operations to a reliable accountancy company with an experienced team of specialists, you will have all the answers your queries are readily available.

6. Improveddfkjgkjflkdj Cash Flow

Whether small, medium or large, all business can easily go bust if they don’t pay their creditors in time or even attract a very poor credit rating and this can keep your cash flow deteriorating. A reliable bookkeeping service provider will always keep on top of your debtors to ensure that cash flow is properly optimized, and your creditors are settled on time.…